‘To counteract this the Government could cut tariffs on all food imports, EU and non-EU, but this would pose a serious risk of undermining UK food producers who could not compete on price.’

The committee found that it would not be possible to increase food production in time to meet any shortfall caused by Brexit.

Reductions in EU labour could lead to an increase in recruitment or higher wages for domestic workers by paying higher wages but the costs may have to be passed on to customers or some businesses ‘may cease to be viable’.

Peers said it was unclear whether the Government’s goal is maintaining or reducing food prices, or maintaining high animal welfare and food safety standards.

The report said Brexit could mean those who can afford it will buy high-quality local produce while those that cannot may have to turn to cheaper imports that ‘could be produced to lower standards’.

Committee chairman Lord Teverson said: ‘Throughout our inquiry there was a striking contrast between Government confidence and industry concerns.

‘The minister may not be worried about the potential for Brexit to impact on the price and availability of food, but the representatives of the food and farming industry, importers, port authorities and consumer organisations were vocal in their concerns.